Granite Ridge Resources, Inc. $GRNT Holdings Decreased by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 37.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,291 shares of the company’s stock after selling 100,835 shares during the period. GSA Capital Partners LLP owned about 0.13% of Granite Ridge Resources worth $927,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Granite Ridge Resources by 6.7% during the third quarter. Vanguard Group Inc. now owns 4,472,643 shares of the company’s stock worth $24,197,000 after purchasing an additional 282,132 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Granite Ridge Resources during the 3rd quarter valued at about $211,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Granite Ridge Resources during the 3rd quarter valued at about $231,000. Wilmington Savings Fund Society FSB raised its stake in Granite Ridge Resources by 35.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 11,499 shares of the company’s stock worth $62,000 after acquiring an additional 3,010 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Granite Ridge Resources in the third quarter worth about $26,000. Institutional investors and hedge funds own 31.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Granite Ridge Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Insider Activity at Granite Ridge Resources

In other Granite Ridge Resources news, Director John Mccartney acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average cost of $5.26 per share, with a total value of $26,300.00. Following the acquisition, the director directly owned 113,117 shares of the company’s stock, valued at $594,995.42. This represents a 4.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Reade Miller bought 9,388 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was acquired at an average price of $5.33 per share, for a total transaction of $50,038.04. Following the completion of the transaction, the director owned 1,297,518 shares in the company, valued at $6,915,770.94. This trade represents a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 20,062 shares of company stock valued at $106,668. Insiders own 8.50% of the company’s stock.

Granite Ridge Resources Trading Down 0.5%

Shares of NYSE:GRNT opened at $5.23 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $4.76 and its 200 day moving average price is $5.13. The company has a market cap of $686.70 million, a PE ratio of 18.69, a P/E/G ratio of 2.58 and a beta of 0.35. Granite Ridge Resources, Inc. has a fifty-two week low of $4.18 and a fifty-two week high of $6.72.

Granite Ridge Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, February 27th. This represents a $0.44 annualized dividend and a dividend yield of 8.4%. Granite Ridge Resources’s payout ratio is currently 157.14%.

Granite Ridge Resources Company Profile

Granite Ridge Resources, Inc operates as a non-operated oil and gas exploration and production company. It owns a portfolio of wells and acreage across the Permian and other unconventional basins in the United States. Granite Ridge Resources, Inc is based in Dallas, Texas.